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enterprise risk management Articles

Enterprise Risk Management (ERM) is a new, strategic imperative that is gaining momentum. Leaner operating models and global sourcing have made companies stand up and take notice: managing risk is important! And Health, Safety and Environment (HSE) risk is no exception. According to AMR Research, nearly half of surveyed companies plan to increase spending on Operational Risk Management ...

The effect of the financial crisis on enterprise risk management (ERM) disclosures was examined through a content analysis of the 2007 and 2008 annual reports of Canadian corporations listed on the S&P TSX composite index. Fourteen types of risk were tracked and categorised by level of risk exposure, risk consequence and risk management disclosures. The total number of risk disclosures increased ...

In this paper, we address the problem of describing enterprise risk. Several international standards on risk management provide guidelines for this purpose, including the COSO enterprise risk management framework which defines risk as the possibility that an event will occur that adversely affects the achievement of objectives, and the ISO standard on risk management which defines risk as the ...

Business today is global, on-demand, 24/7. Companies must be agile and quick to respond to changing markets and opportunities. They must be able to identify, assess and prioritize upside and downside risks across the enterprise. Quality, environment, health & safety (QEHS) areas represent potentially severe risks. Companies need an integrated software solutions to manage internal and external ...

This work is a first step towards the application of multivariate methods in risk management and change management in Enterprise System Implementation (ESI). ESI is characterised by concentrated efforts to integrate an IT system. Such projects typically experience unplanned problems and events, which may lead to major restructuring of the process. In this work, we rely on ESI theory developed by ...

What got us to where we are today will not get us to where we want to be tomorrow. Decades of awareness building, training, and record keeping on Occupational Health and Safety – spearheaded by private and public enterprises and prodded along by governments – have got us to where we are today. These efforts have moved us incrementally along a path over the past four decades from ...

As travel becomes more and more accessible for individuals, the potential for risk at destination will develop. As a potential way forward the education of stakeholders in the form of travellers offers policy makers a potential window to limit risk and enhance safety whilst engaging in travel. As a potential force for good, the actions of the mobile tourist could be harnessed and used as a ...

This paper presents an index that measures the impacts of dependency risks between parts of an enterprise which can negatively affect the ability of the whole enterprise to deliver capabilities and services. This measure will be termed the risk co-relationship index. The purpose of this index is to enable engineers and managers to identify and evaluate the ripple effects of risks from one part of ...

The major findings of the study are that most public sector enterprises (PSEs) in India have a debt dominated capital structure and a sizeable number of PSEs are beset with the risk of unserviceable debt. Therefore, it is suggested that viable PSEs should refrain from the excessive use of debt, on the one hand, and that the government, while restructuring the struggling PSEs, should formulate ...

With enterprise risk management (ERM), business decisions are approached with regards to the risk they oppose. Opportunities are rated against their most likely outcome, and threats are mitigated based on their potential impact. ERM strategies can be applied to critical parts of your operations, or to the company as a whole. There are several lists available online that ...

With the implementation of the environmental legislation in April 2000 in the UK, the paper examines how provisions relating to contaminated land might affect loan decision-making by financial lending institutions to small and medium size enterprises (SMEs). The potential for a borrower or lender to incur liability for the cleaning up of contaminated land is now real. An insight into how banks ...

Historically, risk management was seen as a business function to determine the potential areas of loss, insure against those losses, and process claims for actual losses as effectively as possible. Today, Enterprise Risk Management (ERM) is much broader than losses, insurance and claims. It is targeted at managing any factor that represents a threat to a company attaining its strategic ...

One of the world’s largest mining companies, Vale, is striving to achieve best practices in risk management. Headquartered in Brazil, Vale is the market leader in production of iron ore and ranks second in production of nickel, as well as producing pellets, coal, copper, fertilizers, manganese and ferroalloys – with around 195,000 employees working in 30 countries on five continents. ...

Risk is a characteristic of innovative industries. The process of new product development in the biopharmaceutical sector is extremely dynamic and unpredictable, creating both risks and opportunities for the small and medium-sized enterprises. The survival and development of these firms is determined by their capacity to develop flexible, but effective responses to the challenges of the ...

This paper suggests a framework for identifying the extent to which an organisation depends on services and resources provided by either external or internal technological infrastructures and for evaluating the corresponding business risks. By combining the advantages provided by a goal-driven organisation modelling technique with the analysis capabilities of an infrastructures simulator, the ...

Allowances, credits, and other tradable environmental assets created as a result of compliance programmes – collectively known as the ecoAsset portfolio – introduce financial uncertainty as their balance sheet values rise and fall with emissions market prices. Like other commodity markets characterised by forward price uncertainty, ecoAsset portfolio risk is manageable using commodity risk ...

Supporting Compliance Enterprise-Wide Providing Global Access to Critical Response Data About the Client Operating throughout North America, our client is recognized as a leading producer in oil and gas exploration, production technology and a top contributor of natural gas and gasoline. The client currently has 120 U.S. assets ...

Headline: Fortune 100 Manufacturing Company makes the move from spreadsheets to GHG intelligence. Business Problem The complexity of the enterprise presented hefty data sets that made reporting, compliance, and auditing functions laborious. In-house legacy excel systems increased costs, presented continuity and audit risk, and could not scale to continued growth. In addition to reporting ...

The landscape for national compliance reporting thresholds for facilities was about to dramatically increase in scale and the company did not have the resources and systems to measure, manage and report the required data in a timely and accurate manner. This organization with vast resources deployed across much of Western Canada was suddenly exposed to an alarming degree of financial risk for ...

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